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Saudi Port Authority Signs $164 Million in Contracts, SPA Says

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Aug. 6 (Bloomberg) -- The Saudi Port Authority signed contracts valued at 615 million riyals ($164 million) to expand its facilities, the Saudi Press Agency reported, citing Abdulaziz al-Tuwaijri, president of the authority.

A 192 million-riyal power plant will be built at King Abdulaziz Port in Dammam to raise capacity to 120 megawatts from 50 megawatts when completed in 24 months, the official news service reported yesterday. A container terminal in Dhiba Port and two container terminals at King Fahd Industrial Port on the Red Sea are to be constructed within the next two and half years, the news service said.

A terminal to service and dock passenger and leisure vessels will be established in two years at the Yanbu Commercial Port on the Red Sea to support tourism in Saudi Arabia, the news service said.

To contact the reporter on this story: Glen Carey in Riyadh at gcarey8@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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